Glass industry shaken by financial crisis, Glass giants expect bright future

Under the impact of global financial crisis, the over-capacity China glass industry was greatly shaken. Since last year, over 40 float glass liens ceased production and about 100 million tons of capacities were cut. However, Xinfuxing Glass, the largest company in decorative building glass processing in Fujian province, has stated that it remains, for now, largely intact.

Xinfuxing Glass held the opening ceremony of its new plant in Mawei. As one of the large-scale glass processing bases in China, Xinfuxing Glass is specialized in processing decorative building glass and energy-saving glass. In the shadow of financial crisis, the company remains profitable.

Hong Wenjiang, General Manager of Xiamen Dazhuopin Glass Co., Ltd., the second largest glass processing company in Xiamen, attended the ceremony. “The global financial crisis indeed leads to a great damages for the whole glass industry. No exception for Xiamen glass companies,” He said, “Luckily, we upgraded our products and entered into the new field of glass industry.” With new products such as energy-saving hollow glass and laminated glass, Xiamen Dazhuopin Glass increased the business volume by 40% this year.

Zhou Cheng, President of the Board of China Glass Holdings, stated that although the real estate industry is slumping, with the development of urbanization in China, glass industry still expects more opportunities than challenges.